Akamai proposes $1.35B convertible notes due 2033; upsizes credit facility to $1B

AKAMAI TECHNOLOGIES INC

Offers $1.35B in convertible senior notes due 2033; underwriters may purchase additional $202.5M.
Proceeds used to repay ~$250M credit facility borrowings and part of $1.15B 0.375% notes due 2027.
Plans to repurchase ~$275M of common stock from note purchasers in private transactions.
Enters convertible note hedge and warrant transactions to reduce dilution on conversion.
Credit facility amended: revolver increased from $500M to $1B; maturity extended to Nov 2028.

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